The Financial Times reported on Thursday that Meta Platforms Inc (META.O) management is considering a company-wide ban on political advertising in Europe due to concerns that Facebook and Instagram may not comply with potential EU rules targeting online campaigns.
In February, EU lawmakers toughened targeted political advertising laws to prevent electoral deception. U.S. internet corporations must now give additional data on their targeted political ads or face fines of up to 4% of global revenue.
Two sources briefed on the meetings told the newspaper that Meta executives worry the EU’s definition of political adverts would be too broad, making it easier to reject all paid political campaigns on the company’s platforms.
In December, the European Commission told Facebook parent Meta that it breached EU antitrust rules by restricting competition in online classified advertising markets and abusing its dominant position.
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